Tuesday, November 25, 2008

Rogue Trader

What does a nation do when the head of its central bank becomes a rogue trader? From Wikipedia:

A rogue trader is an authorised employee making unauthorised trades on behalf of their employer. It is most often applicable to financial trading, and as such is a term used to describe persons - professional traders - making unapproved financial transactions. This activity is in the grey area between civil and criminal illegality for the reason that the perpetrator is a legitimate employee of a company or institution, yet enters into transactions on behalf of their employer without permission.

Bernanke is out of control.

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